S&P futures vs fair value: -14.4. Nasdaq futures vs fair value: -18.5. It is shaping up to be a sharply lower start to the trading day. March import prices rose 2.8% month over month, which is larger than the expected 2.0% increase. Year-over-year, imported prices are up 14.8%.
General Electric (GE) provided a disappointing earnings report and outlook, citing weakness in financial services. GE said it earned $0.44 per share in the first quarter, which falls short of the consensus estimate of $0.51. Its revenue came in at $42.2 billion, which missed the consensus estimate of $43.7 billion. Looking ahead, GE expects its second quarter earnings per share will be $0.53 to $0.55 per share, which misses the expected earnings of $0.58. For full year 2008, GE expects to earn between $2.20 and $2.30 per share, versus the $2.43 consensus. European markets fell into the red after GE's report, with the FTSE shedding 0.9% and the Dax down 1.2%.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment